Write a paragraph telling how credit can be both helpful and harmful.

When you tally up the pros and cons of credit cards, a couple of things are clear. There are many reasons to use a credit card, from convenience and credit building to 0% financing and rewards. But considering how easy it is to overspend with a credit card, how expensive credit card debt can be and how missed payments can hurt your credit score, there’s also reason to be cautious. We rack up billions of dollars in credit card debt each year, for example. And anytime you’re 30+ days late on a payment, it’s noted on your credit report for seven years. Most importantly, though, the advantages of credit cards vastly outweigh the disadvantages for most people. You don’t even need to make purchases with a credit card to benefit. Just educate yourself on what to do and what not to do, and you’ll be alright.

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